English

Utility ______.

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Question

Utility ______.

Options

  • Differs from person to person

  • Differs from time to time

  • Differs from product to product

  • All of these

MCQ
Fill in the Blanks
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Solution

Utility differs from person to person, from time to time, and from product to product.

Explanation:

Utility is subjective and can vary between people, times, and commodities. Therefore, all three statements are correct.

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Chapter 2: Consumer's Equilibrium - OBJECTIVE QUESTIONS [Page 2.48]

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Sandeep Garg Introductory Microeconomics [English] Class 11
Chapter 2 Consumer's Equilibrium
OBJECTIVE QUESTIONS | Q 32. | Page 2.48
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